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Investigation report by Audit Investigation BoardFRC press release

Accounting & Financial Reporting Council, 17-Mar-2011

The facts in this document are consistent with the listing document for Asian Citrus (0073), including the fact that it was not a prospectus, because no shares were issued in connection with the listing. Notably in para 3.6.4 the listco denies any duty of care to the existing public and claims that investors should not rely on the Listing Document. The AIB rules that the Accountants' Report should have adjusted EPS on the face of the income statement for the stock split which occurred after the year end but before the date of the report. The reporting accountant of Asian Citrus was Baker Tilly Hong Kong Ltd.

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